It seems to me that if you are going to start a business, you are better off spending the 40 hours you were going to spend prepping for a competition actually working on your business.
Outside of academia, what value do business competitions have?
- Networking (showing off in front of a group of local professionals)?
- Practice (pitching in front of an audience)?
- "It forces you think everything through" - if you are serious, why aren't you doing this anyway?
- Prizes - maybe if there is significant money or services associated with winning?
These kind of competitions seem to be everywhere. Maybe I just have a stigma against talking about ideas while other people are out there acting on them.
What value have you found in doing these kind of events?